Berkadia has been busy so far this month, closing four transactions that ranged from Fannie Mae financing to HUD debt to a bridge loan. Starting with the largest, the team of Heidi Brunet and Jay Healy utilized Berkadia’s proprietary bridge loan program to finance the $28 million acquisition of three skilled nursing facilities, totaling 222 Medicare-certified beds, in Colorado, Kansas and Nevada. The borrower used the proceeds of the 12-month loan to fund 100% of the purchase price, plus transaction costs, and plans to refinance through HUD.
Brunet and Healy also closed two HUD loans as well, including a $2.5 million, 35-year loan for a 120-bed skilled nursing facility in Sarasota, Florida, and a $3.38 million, 35-year loan for a 55-unit assisted living community in Indiana. The same owner also refinanced its 125-unit independent living/memory care community in South Carolina. Originally purchased in 2010 as a value-add acquisition, the property, which was built in 2000, is only recently stabilized. In improving operations, the borrowers renovated and expanded the memory care wing in 2012 to include 48 units. Lisa Lautner and Heidi Brunet arranged an $8.4 million, 10-year Fannie Mae loan to refinance the property.
